DataVolt secures up to US$150 million for Tashkent data center

Tashkent, Uzbekistan (UzDaily.uz) — DataVolt, a global leader in the construction of large-scale data centers, has secured non-recourse project financing of up to US$150 million to implement an infrastructure project in Tashkent. The funds will be directed toward the construction and subsequent operation of the 12 MW TAS-1 data center on the territory of IT Park.

The transaction was announced by the international law firm Dentons, which acted as legal counsel to DataVolt on Uzbek law within the framework of this deal.

The financing was provided by a consortium of international development finance institutions comprising the European Bank for Reconstruction and Development, Germany's DEG, the OPEC Fund for International Development, and France's Proparco. The financing term is twelve years. According to Dentons, the deal is the first of its kind in Uzbekistan under a non-recourse project financing format and sets a significant precedent for the country's digital sector.

The commissioning of TAS-1 is scheduled for the end of 2026. Following this, according to estimates by the transaction participants, the facility will become one of the largest green, artificial intelligence-ready data centers in Central Asia. The data center will be equipped with liquid cooling systems for high-performance cloud computing and enterprise IT infrastructure.

The project is being implemented within the framework of the "Digital Uzbekistan — 2030" state strategy amid growing demand for modern digital infrastructure in the region.

The Dentons legal team was led by Ulugbek Abdullaev, a partner at the Tashkent office, with support from associate Laylo Mardieva. The firm provided financing structuring, legal due diligence at the request of the lenders, and the drafting of financial documentation.

"The financing marks an important step in the development of the country's digital economy and demonstrates the growing confidence of international financial institutions in the investment potential of Uzbekistan," Ulugbek Abdullaev stated.